I don't mind not getting notified for a Suggested Edit I accepted months ago. But my First Post reviewed badge was awarded because of a review I just did few minutes ago and I was totally expecting to get notified.

I didn't get any notification for my "Custodian" badges either (but got notifications for "Reviewer" and "Steward"). Could be that too many get them to send out all the notifications immediately.
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Daniel FischerSep 22 '12 at 1:22

I didn't get any notification for the Custodian badge either. I guess reputation comes into play.
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kiamlalunoSep 22 '12 at 1:56

I just got notified on both meta and SO... not sure whether I deserve them or not but badges are always good.
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M.BabcockSep 22 '12 at 4:36